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African Development Bank Has Loaned 100 million to Help Guinea-Bissau Improve the Power Supply

Number of visits: Date:7/21/2015 05:02:10

Recently, the African Development Bank announced that the bank has approved to grant 16.7 million euros (about 103 million yuan) loans to improve the power supply of the captical of Guinea-Bissau.

Notice said that the capital funding included 9 million euros loans and the remaining 7.7 million euros donation.

The African Development Bank said the funds was used for 31,000 customers point of power facilities repair, connecting 10,500 new users, and improving business operations and good management of public water and electricity company EAGB.

Guinea-Bissau capital projects to improve power had three years deadline, seeking to reduce the number of daily power outages from 22 to less than 2 times. In addition, the project also planned to reduce the commercial and technical loss rate from 47% to 20%.

"Only 20% people in the capital can obtain electricity, and the electricity is connected to a weak power grid. Half of the grid's power loss due to illegal access and outdated infrastructure. In addition, because of the overload, some areas of the power is over 20 hours a day." African Development Bank said.

The power supply improvement project also got the additional financing from the European Investment Bank and the government of Guinea-Bissau.

TypeInfo: Industry news

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